Inogen (INGN) Lowered to “Hold” at ValuEngine

ValuEngine downgraded shares of Inogen (NASDAQ:INGN) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other equities analysts have also commented on the stock. Needham & Company LLC restated a buy rating and issued a $280.00 price target (down from $296.00) on shares of Inogen in a research report on Wednesday. BidaskClub lowered shares of Inogen from a hold rating to a sell rating in a research report on Saturday, October 27th. Zacks Investment Research upgraded shares of Inogen from a hold rating to a buy rating and set a $290.00 price target on the stock in a research report on Thursday, September 27th. Finally, Piper Jaffray Companies boosted their price target on shares of Inogen from $245.00 to $290.00 and gave the company an overweight rating in a research report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $244.67.

Shares of Inogen stock opened at $148.51 on Wednesday. Inogen has a twelve month low of $111.49 and a twelve month high of $287.79. The stock has a market cap of $3.18 billion, a PE ratio of 113.37, a price-to-earnings-growth ratio of 2.89 and a beta of 1.56.

Inogen (NASDAQ:INGN) last released its quarterly earnings results on Tuesday, November 6th. The medical technology company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.21. The firm had revenue of $95.29 million for the quarter, compared to analyst estimates of $90.94 million. Inogen had a net margin of 12.28% and a return on equity of 18.91%. The company’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. Analysts anticipate that Inogen will post 2.1 earnings per share for the current year.

In other Inogen news, Director Raymond Huggenberger sold 10,500 shares of the business’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $282.57, for a total value of $2,966,985.00. Following the transaction, the director now directly owns 8,797 shares in the company, valued at $2,485,768.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Heath Lukatch sold 500 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $193.97, for a total transaction of $96,985.00. Following the completion of the transaction, the director now owns 1,489 shares in the company, valued at $288,821.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,000 shares of company stock worth $11,098,610. Company insiders own 5.29% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. CIBC World Markets Inc. lifted its position in shares of Inogen by 71.0% during the third quarter. CIBC World Markets Inc. now owns 14,593 shares of the medical technology company’s stock worth $3,562,000 after purchasing an additional 6,057 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Inogen by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 207,765 shares of the medical technology company’s stock worth $50,720,000 after purchasing an additional 2,422 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Inogen by 85.2% during the third quarter. Janus Henderson Group PLC now owns 7,810 shares of the medical technology company’s stock worth $1,907,000 after purchasing an additional 3,593 shares in the last quarter. AXA acquired a new position in shares of Inogen during the third quarter worth approximately $1,587,000. Finally, Alliancebernstein L.P. lifted its position in shares of Inogen by 43.3% during the third quarter. Alliancebernstein L.P. now owns 373,794 shares of the medical technology company’s stock worth $91,251,000 after purchasing an additional 113,024 shares in the last quarter. Institutional investors own 96.67% of the company’s stock.

Inogen Company Profile

Inogen, Inc, a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for patients, physicians and other clinicians, and third-party payors in the United States and internationally. The company's oxygen concentrators are used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

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Analyst Recommendations for Inogen (NASDAQ:INGN)

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